iForex is a part of international group of companies which was founded in the year 1996 by a group of brokers but started online trading only in the year 2004. It is a multilingual internet based online company. Though this company is an old player in the field its working is still very complicated and inconsistent when compared to some new brokers in the forex market. The website of the iForex is very promising as it is multilingual and has all the features clearly defined like the account types, users and description of the platform and its working. They also offer a demo account to all its users but it is not free and they charge $100 for its use and are a protected account valid for 14 days.
They have an interest free trading for the Muslim traders who stick to the Sharia law related to Forex trading. The number of currency pairs for trading is 58 and includes all major currency pairs. The leverage is very high and is equal to 1:400. They have their own trading platform FXnet whose performance is very good and is a downloadable one and is suitable for all those traders who majority of time trade on their desk. They also have a web version for all those who like to trade while on the go. The web based version is available in 13 languages whereas the downloadable form is available only in English and Hebrew. The deposit required to open an account with them is just $100. The customer service is available in 9 languages for the ease of the customer. The scalping is also allowed by the company to its customers. However, there are a few disadvantages like they are not regulated, lack of many services like mobile trading, managed accounts.
The reviews are the best way to judge a company’s performance and if the services provided cater to the needs of the customers. There are many advantages of trading with iForex listed by the users which includes the fact that they allow hedging and scalping. This is particularly important for all the users who love scalping to gain more returns on their investments. The company provides to its customers professional training officer which is loved by many traders especially the beginners. The other positives listed by the reviewers are that they have a dealing desk and leverage is 1:400. The possibility of making the withdrawal to the credit card is also loved by many traders. There are a few cons also listed by the users which include the non-availability of PAMM account. The absence of free demo account is also a concern for many users. They are not regulated is also a concern. The availability of very less payment option is also a matter of concern for many users as stated in the reviews. However, the overall reviews are very positive. The average rating given by the iForex users is 6 out of 10 which shows its reliability.» Sign up now